Monthly Archives: January 2023
Former BlackRock Portfolio Manager Charged with Undisclosed Conflict of Interest
(HedgeCo.Net) The Securities and Exchange Commission has charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he managed […]
Traders who bet against stocks made a killing in 2022, as short sellers netted $300 billion
(CNBC) Traders who shorted stocks won big in 2022, according to S3 Partners. Shorted stocks had a return of 30.8% in 2022, said Ihor Dusaniwsky, the firm’s managing director of predictive analytics. That means short sellers outperformed the broader market, […]
Stock futures rise slightly as investors look ahead to Friday’s jobs report
(CNBC) U.S. stock futures rose slightly on Thursday night as investors looked ahead to the December jobs report Friday. Strong jobs data earlier in the day led to declines in the major averages as it pointed to further rate hikes […]
New York AG accuses Celsius ex-CEO Alex Mashinsky of defrauding hundreds of thousands of crypto investors in $20 billion collapse
(CNBC) New York Attorney General Letitia James sued former Celsius Network CEO Alex Mashinsky on Thursday, alleging that Mashinsky defrauded hundreds of thousands of investors out of billions of dollars at the now-bankrupt cryptocurrency exchange. To read this article:
Crypto lender Genesis Trading lays off 30% of workforce
(CNBC) Genesis Trading, the embattled crypto lending arm of Barry Silbert’s Digital Currency Group, has cut headcount by 30% as it faces increasing pressure from creditors and the looming threat of bankruptcy. Silbert’s crypto conglomerate, which includes the Grayscale Bitcoin […]
Berger’s ‘contrarian’ hedge fund up 163% on market downturn bets
(Hedgeweek) Investment manager Neal Berger’s Contrarian Macro Fund chalked up gains of 163% last year on the back of a series of successful bets that US Federal Reserve rate hikes would cause market turmoil, according to a report by Bloomberg. […]
Odey’s flagship hedge fund up record 152% on inflation wager
(Hedgeweek) Multi-millionaire investor Crispin Odey’s flagship European Inc hedge fund recorded its best performance last year since launching back in 1991 driven largely by a series of winning bets on spiralling inflation, according to a report by Bloomberg. To read […]
Creator of CoinDeal Crypto Scheme and Seven Others Charged in Connection with $45 Million Fraud
(HedgeCo.Net) The Securities and Exchange Commission charhasged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme named CoinDeal that raised more than […]
Amazon says it will cut over 18,000 jobs, more than initially planned
(CNBC) Amazon said Wednesday it will cut over 18,000 jobs, a bigger number than the e-retailer initially said it would be eliminating last year. The Wall Street Journal reported on the cuts earlier, which Amazon said preempted its planned announcement. […]
Salesforce is cutting 10% of its personnel, more than 7,000 employees
(CNBC) Salesforce is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company announced Wednesday. The company employed more than 79,000 workers as of December. In a letter to employees, co-CEO Marc […]
Fed officials see higher rates for ‘some time’ ahead
(CNBC) Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank’s December meeting. At a meeting where policymakers raised […]
Samsung expected to post lowest quarterly profit in years due to memory chip ‘market carnage’
(CNBC) Samsung’s profit could nosedive when it reports fourth-quarter earnings guidance this week as prices for key memory chips continue to plunge amid weak demand. Analysts expect Samsung to report 7.18 trillion South Korean won ($5.64 billion) in operating profit […]